DeepSeek nears US$7b haul in first-ever funding round, with backing from Tencent, CATL

DeepSeek, a Chinese artificial intelligence start-up, is finalizing its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation just under US$60 billion. The round includes backing from Tencent and CATL, marking a six-fold increase from its April valuation of US$10 billion.